• Coinbase considered Saylor-like Bitcoin strategy before opting out:…
  • Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve…
  • Trump, UK trade deal plus ETF inflows fuel…
  • Strive Asset Manager to become Bitcoin treasury company
  • Coinbase considered Saylor-like Bitcoin strategy before opting out:…
  • Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve…
  • Trump, UK trade deal plus ETF inflows fuel…
  • Strive Asset Manager to become Bitcoin treasury company
  • Coinbase considered Saylor-like Bitcoin strategy before opting out:…
  • Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve…
  • Trump, UK trade deal plus ETF inflows fuel…
  • Strive Asset Manager to become Bitcoin treasury company
Lets Talk Web3 Your trusted source for all things Web3
  • Latest Post
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Blockchain News
  • About Us
  • AI News
  • Press Release
  • NFT News
  • Market Analysis
☰
Lets Talk Web3

We also offer the following services:

👉Global Media Coverage: We secure top-tier media placements worldwide. Need specific media houses? Let’s discuss your targets.
👉Content Strategies & Management: From crafting compelling narratives to managing your content, we ensure your message resonates.
👉Shilling Services: Drive constant visibility with strategic Twitter and Binance Square posts.
👉Organic Engagement Boosters: Amplify your presence on Twitter and Telegram with authentic, organic engagement.
👉Exchange Listings: We facilitate smooth and strategic exchange listings to help you reach the right markets.
👉Performance Marketing: Target Web3-focused websites with precision marketing that delivers results.
👉KOL (Key Opinion Leader) Partnerships: With connections to over 5,000 KOLs across various platforms, we can craft a strategy that suits your audience and goals.

Block a time here- https://lnkd.in/g7iCgq_b or email at Contact@letstalkweb3.com

Brazil Advances with New CBDC, Partners Chainlink and Microsoft

Nitin Gupta - Market Analysis - November 20, 2024
Brazil’s Central Bank Partners with Chainlink and Microsoft for DREX, a Trade-Focused CBDC
Nitin Gupta Founder of LetsTalkWeb3.com, a full fledged media house for everything Web3.…
20 views 3 mins 0 Comments



The Central Bank of Brazil is partnering with Chainlink, Microsoft, and others to develop DREX, a new CBDC. DREX will specialize in cross-border trade rather than everyday use, incorporating artificial intelligence (AI) oracle technology.

Brazil has made several crypto advancements this year, like the world’s first spot Solana ETF.

Brazil’s New DREX CBDC

According to a recent press release from Chainlink, the Central Bank of Brazil (BCB) has selected the company alongside Microsoft Brazil, digital banking firm Banco Inter, and 7COMm to continue developing the country’s new CBDC. The BCB has been working on this new asset, DREX, and is preparing to enter the second phase of testing.

“We look forward to… demonstrating how the adoption of blockchain technology combined with Chainlink’s interoperability protocol CCIP can transform trade finance. Chainlink CCIP… will help showcase what tokenized assets can do at scale for this key CBDC use case in Brazil,” said Angela Walker, Global Head of Banking and Capital Markets at Chainlink.

In essence, DREX’s designers will focus on trade finance, especially cross-border agricultural transactions. DREX, in other words, will incorporate AI supply chain management and blockchain data that would not be relevant to everyday customers. China, another large CBDC user, has also employed specialized products for this use case.

Brazil has made several important strides in crypto adoption this year. For example, it launched the world’s first Solana spot ETF in August, a model for other countries to emulate.

Additionally, the BCB set the ambitious goal of finalizing comprehensive crypto regulations within a year.

DREX will not be the first trade-focused CBDC, but it will have new features. Phase two of DREX development will use Chainlink CCIP to conduct interoperability tests, ensuring that the BCB and foreign banks can conduct transactions smoothly.

It will also experiment with tokenizing Bills of Lading and triggering exporter payments via blockchain. These and other small-scale tests will determine Brazil’s ability to use DREX en masse.

Ultimately, this pilot program will ensure that DREX’s functions are ready for wider use. The press release does not specify plans for the next phase other than a wider use of cross-border payments.

Yet, Brazil has set a very ambitious project with DREX, which might require extensive tests. If successful, however, it would be a major advancement for CBDCs in Latin America.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.



Source link

TAGS:
PREVIOUS
Mayank Bidawatka’s Billion Hearts raises $4M in seed funding round led by Blume Ventures
NEXT
Best antivirus software for 2024 (Australia)
Related Post
Bubblemaps’ BMT Token Spikes 100% After Binance Listing and Airdrop
March 18, 2025
Bubblemaps (BMT) Surges 100% After Binance Listing and Airdrop
BNB Price Eyes 25% Rally, Set to Follow in Solana’s Footsteps
October 24, 2024
Can BNB Coin Price Rally to $730 Soon?
5 Real World Assets (RWA) Altcoins to Watch in April 2025
April 9, 2025
5 RWA Altcoins to Watch In April 2025
Here Is Why Stellar (XLM) Could Lose the $10 Billion Market Cap Soon
December 26, 2024
Stellar (XLM) Price Down 10% With Indicators Turning Bearish
Leave a Reply

Click here to cancel reply.

With a global network of contributors, LetsTalkWeb3 is committed to providing high-quality content that serves both newcomers and seasoned professionals. Whether you’re an investor, developer, or simply curious about the future of the internet, LetsTalkWeb3 is your trusted source for all things Web3

Scroll To Top
  • Home
  • About Us
  • AI News
  • Press Release
  • NFT News
  • Market Analysis
© Copyright 2025 - Lets Talk Web3 . All Rights Reserved
bitcoin
Bitcoin (BTC) $ 104,496.00
ethereum
Ethereum (ETH) $ 2,514.98
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.38
bnb
BNB (BNB) $ 659.50
solana
Solana (SOL) $ 174.46
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.233635
cardano
Cardano (ADA) $ 0.80044
tron
TRON (TRX) $ 0.263096
bitcoin
Bitcoin (BTC) $ 104,496.00
ethereum
Ethereum (ETH) $ 2,514.98
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.38
bnb
BNB (BNB) $ 659.50
solana
Solana (SOL) $ 174.46
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.233635
cardano
Cardano (ADA) $ 0.80044
tron
TRON (TRX) $ 0.263096